RBI Monetary Policy Meet underway: Key things to watch out for
Live MintReserve Bank of India Governor Shaktikanta Das will unveil the fifth monetary policy of the financial year 2023-24 on Friday, December 8, after a two-day review, as it observes the impact of global headwinds on India's macroeconomic indicators such as inflation trajectory and growth in gross domestic product. The review by the six-member Monetary Policy Committee led by Das will likely indicate the course RBI will adopt in the remainder of the financial year as it seeks to strike a fine balance between sustaining growth and bringing inflation under the 4 per cent target amid high food prices. Here are the key indicators to watch out for during the December 2023 MPC: Inflation: India's consumer price index -based inflation eased to a four-month low in October at 4.87 per cent from 5.02 per cent in September, edging closer to the central bank's target of 4 per cent. With sticky retail inflation - breaching the MPC's upper threshold of 6 per cent and the US Fed's persisting hawkish stance, the RBI is likely to keep the repo rate unchanged. Growth: The Indian economy grew 7.6 per cent during the July-September quarter of the current financial year 2023-24, remaining the fastest-growing major economy in the world, according to the GDP data.